Bounced check figures up for third consecutive month in March - Serasa

- Tuesday, April 19, 2011

Bounced check figures up for third consecutive month in March - Serasa

The number of bounced checks in Brazil increased in March for the third consecutive month, up 2.13% year-on-year and rising 1.83% from February, credit information firm Serasa Experian said in a report.

According to Serasa economists, the Brazilian economy's current cycle - including monetary tightening measures from central bank BCB, trying to tame inflation and cool off the economy - and seasonal factors, including carnival expenses and tax and school payments, impacted the bounced check rate.

BCB's measures have impacted the day-to-day economy, as heavily indebted consumers have seen an increase in interest rates, leaving them with fewer resources to cover their financial commitments.

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